@Ralph Henderson get more educated on marketing/branding/selling yourself. :)

It's rare for tenants to pay their own heat in NYC (it does happen in newer buildings, though I'd be surprised if a brand new 2 unit in Queens would be going for 400K), but even assuming they do, you need to pay for electric in common areas and I've never heard of a tenant paying water in NYC.

If in theory this project is brand new with separate meters, intact plumbing, electrical boxes etc. still only 2 unit building, should the process be straight forward?

Heirs start again with fresh depreciation schedules. 

I am brand new in this space.

If you buy all brand new nice furniture, you are going to spend a fortune and I don't think it's worth it on a rental property. 

Zillow then starts calling agents and says Hey if you want to actually claim your listings on Zillow we can do that for you for $300 bucks a month and that will get you branded on 10 of your listings.

$1600 rent, Mortgage $1150 - maintenance cost is usually really low for first 2-3 years since its a brand new remodel.All in all its a high class asset with strong cash flow and easy to sell when we want - best of both worlds.Originally posted by @Christian Wathne:What does your rent and ongoing costs look like on this property?

Hi @Ailen Li I have had projects in Boston where we had to put in brand new kitchens and bath.

HI AllMe and my partner are jumping right into this, we have a multiplex property we want to invest into.  Sell Price is 600KWe are have the cash to bring in 30% and little more.Issue is banks are not ready to loan us...